Likelihood to Recommend
I feel Billtrust is useful to all payments and data between vendors and customers. It gives easy access to invoices and statements to customers which can allow easier management of the account. Billtrust can take payments through ACH withdrawl and through credit card which was ideal for our company. It provides statement copies for the customer. If it worked well, it should save postage and time for our Vendor's AR team and could make things easier for our team.
- The payment portal is of the highest security, giving our participating customers piece of mind.
- By offering electronic methods of billing statement, and other documents, electronically (email, ebill, ebank presentations) we are able to save on printing an postage costs.
- Always on the cusp of emerging technologies, and willing to share their experience, Billtrust offers webinars, Twitterviews, classes, and conferences to keep you in the know and ahead in your industry.
- Billtrust has a crack customer service team that always responds promptly, and with through follow up. Even better yet, when you respond to a survey on their customer service, they will donate to charity - that shows a willingness to hear what their customers have to say.
- If you ever think of an idea, Billtrust is accepting of considering its implementation and how it can be incorporated into their services and systems, making the growth of services organically functional.
- Anyone in our organization can create an account for a vendor with Billtrust. The upside.easy to set up. The downside.invoices stop going through the usual channels and only go to this person. Also, if they leave the company, it's tough to gain access to the account to allow central management.
- Invoices showed as open in the software may not be accessible. It doesn't seem like the AR departments scrub the data, so our group has had to manipulate the data manually.
- Invoices do not always automatically move to paid when a payment is made online. We discovered this by making a duplicate payment on a group of invoices.
Based on 1 answer
We deal with our customer's AR personnel to help resolve issues with our open invoices. They can help us but seem to be lacking in the overall understanding of the Billtrust software and why things may work the way they do. We have some accounts that are active that we have been unable to add to our corporate account, and as a result, these bills must be paid via check, and we are not currently receiving statements. It would be great if they had more robust customer service or maybe different criteria for creating accounts.
In the past, I used Taulia and Covisint as a similar but not identical packages. Both of these software systems had an integration with the customers with whom we were dealing, which would allow purchase orders to flow into the software. Vendors could then generate invoices in the system against the purchase orders, and the customer would pay them via ACH. Taulia also offered dynamic discounting - which would allow discounts for earlier payments. I haven't seen another product precisely like this one.
Return on Investment
- 10 day reduction in our DSO resulting in increased cash flow
- Savings in printing, ink, folding, stuffing, and postage over in-house production, and additional savings with every customer that changes from paper to electronic delivery methods
- Increased payment application by batching payment types by day into one file
- Enhanced knowledge base for staff through webinars, Twitterviews, conferences, classes, and contact with customer support allow our staff to utilize our tools fully
Premium Consulting/Integration Services—
Entry-level set up fee?